Trinity Merger Corp. and the Broadmark real estate lending companies and management companies agreed to enter a business combination transaction to create an internally managed mortgage REIT with an expected equity value of $1.5 billion.
Under the terms of the merger agreement, Trinity will acquire Broadmark for $1.2 billion in total consideration, comprised of 92%, or $1.1 billion, in Broadmark Realty stock and 8%, or $98 million, in cash.
Details to follow.
